The announcement came after the market hours.
The scrip gained 1.77% in intra-day on the back of the announcement. At 1.00pm IST the stock was trading at Rs 2,810 or 1.3% higher.
Analysts have been bullish on the scrip. "We have increased our FY14/15 EPS estimates by 12%-5% post the strong 3Q results and performance of recent launches. As a result of this and rolling forward our timeframe to Mar-15 from Sep-14, our target price rises to Rs 3,000, implying 12% upside from the current share price," JP Morgan said in a research report. The drugmaker posted net profit of Rs 618 crore in Q3, up 70.21% on a y-o-y basis.